Topic Legal
A U.K. climate lawsuit Canadian D&O insurers may be following
March 15, 2023 by David GambrillA recent U.K.-based, climate lawsuit launched against Shell plc’s board of directors by NGO ClientEarth may lead to “copycat” litigation in Canada, lawyers warn, potentially affecting the D&O line of commercial insurance. “Corporate climate litigation is still in its infancy…
Two companies, one shareholder, only one named insured. What happens next?
March 14, 2023 by David GambrillA man who is the sole shareholder of two companies — one that owns a title deed to a building (and the only named insured on the policy), and one a commercial tenant of that same building — has an…
Cyberattack hits Canadian engineering giant with contracts for military bases, power plants
March 9, 2023 by Lee Berthiaume - THE CANADIAN PRESSOTTAWA – A Canadian engineering giant whose work involves critical military, power and transportation infrastructure across the country has been hit with a ransomware attack. Toronto-based Black & McDonald has so far refused to publicly comment on the cyberattack, while…
What the industry says about regulator’s draft corporate culture guidance
March 7, 2023 by David GambrillCanada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing…
P&C advisors’ class action certified against insurer over vacation/holiday pay
March 7, 2023 by David GambrillP&C insurance advisors for RBC Insurance Agency Ltd. have won a certification motion for a class action lawsuit against the insurer over how their vacation and holiday pay were determined. Also, the court conditionally certified a similar class action against…
How CSIO’s forging consistent data standards interpretation
March 6, 2023 by David GambrillThe Centre for Study of Insurance Operations (CSIO)’s mandate has evolved to ensure consistent interpretation of the property & casualty (P&C) insurance industry’s data standards by insurance companies and technology vendors. “In developing the multi-year strategic plan, CSIO’s board of…
Autonomous truck insurance questions remain
March 3, 2023 by James Menzies, Editor, Today's TruckingA panel discussion at the Technology & Maintenance Council’s spring meeting revealed some things won’t change when it comes to insuring autonomously driven trucks. Others will. And there’s still a lot of unknowns. Some of the liability for crashes will…
Trial lawyers to intervene in important accident benefits case
March 2, 2023 by David GambrillOntario’s Superior Court has allowed the Ontario Trial Lawyers Association (OTLA) to intervene in an auto insurance case that will address whether a settlement agreement is enforceable when the injured claimant dies before accident benefits (AB) structured settlement instructions were…
Why your commercial clients may be at risk of ESG legal action
March 1, 2023 by Alyssa DiSabatinoCanadian law firms are preparing for an uptick in environmental, social, and governance (ESG)-related legal cases, based on the rise of such cases in the U.S., a litigator tells Canadian Underwriter. ESG lawsuits occur when a company is taken to…
What the IFRS 17 temporary adjustments mean for insurers
February 24, 2023 by Alyssa DiSabatinoThe International Financial Reporting Standards 17 (IFRS 17) is now in place, but a temporary adjustment to the regulatory prudential limits related to investments, commercial lending and borrowing for P&C insurance companies will allow federally regulated insurers (FRIs) two years…
Court approves insurer’s settlement over COVID flight cancellations
February 23, 2023 by David GambrillOntario’s Superior Court has approved a $4.8-million settlement in a class action lawsuit related to the denial of travel insurance claims by TD Home and Auto Insurance for cancelled flights during the first months of the COVID-19 pandemic. During that…
Sales Column: Clients ignoring your emails? Try texting
February 22, 2023 by Adam MitchellPeople love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always…